nwtk2007 Loc: Texas

Given that banks and creditors do their own appraisals, how could Trump over value his property and benefit from it??

Aren't they supposed to get their own appraisals???

Liberty Tree

In a word, yes.

Strycker Loc: The middle of somewhere else.

Banks don't generally do their own appraisals. What they do is either accept or reject the borrowers number. In Trump's case the lender simply accepted Trump's opinion of what the value was. From what little facts I know, the Judges opinion was excessively low. Trumps was excessively high. That's the nature of appraisals. Appraisals are very subjective. Recently I fought the county property appraisal on one of my properties that they raised by 50%. I eventually got the appraisal lowered by 33%. A considerable amount. Was I committing fraud for disagreeing with the county appraisal? Was the county guilty of fraud in over appraising the value?

Liberty Tree

Banks do appraisals before they give loans to buy property and will not loan more than the appraisal says the property is worth.

RascalRiley Loc: Somewhere south of Detroit

I would say it was the county that was fraudulent. The only way to determine what the property was actual value was actually worth at that time would be to list it. And would be bad faith.

Trump on the other hand based his valuation on what he might expect a Saudi to pay him. With services rendered of course. Jared rendered 2B.

LogicallyRight Loc: Chicago

You're good. What these appraisals are is an opening bid in working out a deal. One side starts low and the other side starts high. They meet somewhere in the middle. If one side just accepts the others price without negotiating, then they have a general belief in that person and their ability to make them both money, so let get on with it. But not a crime.

padremike Loc: Phenix City, Al

You are so lame.

Michael Roy Loc: North of Amarillo

Nothing more than the same bs we really got him this time. They are really desperate nothing more.

nwtk2007 Loc: Texas

The diff being that you are trying to lower the taxable value. Not fraud.

Here is an exerpt from a ruling against a banker who practiced poor banking


(a) Respondent failed to comply with the Bank’s internal, lending policies and
procedures, including the requirements that loans and loan renewals be
presented to the Bank’s loan committee; that loans include independent
valuations of property and assignment of collateral; and that loans not
exceed Respondent’s individual lending authority.

(b) Respondent originated and administered commercial loans in an unsafe or
unsound manner, including loans with inappropriate underwriting,
excessive loan-to-value ratios, and insufficient financial analysis.

(c) Respondent failed to secure Bank collateral, and released collateral
without receiving corresponding pay-downs on outstanding loan balances
or obtaining substitution of collateral.

(d) Respondent ordered the disbursement of loan proceeds directly to a
borrower instead of to the dealer in loan secured by a new vehicle
purchase


I simply cannot fathom loaning amounts of the magnitude we are referring to without having to get independent appraisals. I guess it could be debated after that but at least there would be a basis to begin the debate.

nwtk2007 Loc: Texas

But I guess not in Trump's case for some reason.

nwtk2007 Loc: Texas

Good point! Like here in Texas, value is based upon what a stupid person from California would pay for a property, not it's true value.

nwtk2007 Loc: Texas

You reeeeeeeealy got him this time!???? After how many tries?

Strycker Loc: The middle of somewhere else.

While that is kinda true. What banks do on a real estate loan appraisal is determine if the value of the property is actually worth at least as much as what the borrower is asking for a loan for it. Not the actual value. Actual value is what a property actually sells for and even that number may not be absolutely correct. Appraisals are what income a property do or could generate, what comparable properties have actually recently sold for or current replacement costs should a property be destroyed. All are subjective numbers based on many considerations.

Strycker Loc: The middle of somewhere else.

Simple. Trump was using all his properties as collateral using a net worth statement for a seperate business loan. If the loan is say 5 million and his net worth is claimed to be 5 billion then the bank would likely not bother with appraisals on the individual properties since the loan is a very small amount, .1%, of the total collateral no matter how far off the value of the individual properties used as collateral may be.

RascalRiley Loc: Somewhere south of Detroit

I am enjoying all the ways Trump advocates spin his corrupt and fraudulent business activity.

Trump said only the guilt take the fifth. How many times will Trump and his sons take the fifth next week?

Their defence is, we are entitled.